Sathlokhar IPO Lists at 85.7% Premium on NSE SME

Shares of Sathlokhar Synergys E&C Global had an impressive debut on the SME exchange today, August 6, starting at ₹260 per share on the NSE Emerge platform. This opening price reflects an 85.7% increase from its issue price of ₹140.

The company's initial public offering (IPO) of ₹92.93 crore was available for subscription from July 30 to August 1, with a price range of ₹113-140 per share. The IPO was met with extraordinary demand, being oversubscribed by 211.13 times. Investors bid for 89.26 crore shares, significantly surpassing the 42.28 lakh shares on offer. Leading the demand were Non-Institutional Investors (NIIs) with a subscription rate of 382.11 times, followed by Qualified Institutional Buyers (QIBs) at 171.55 times, and Retail Investors at 160.47 times.

About Sathlokhar IPO

The SME IPO featured a fresh issuance of 66.38 lakh shares without any offer for sale component. Retail investors were required to apply for a minimum of 1,000 shares, which necessitated an investment of ₹1,40,000. High Net-worth Individuals (HNIs) had to invest in at least 2 lots, equating to 2,000 shares and an investment of ₹2,80,000.

The company intends to allocate the funds raised for various purposes, including working capital, strategic initiatives, brand building, operational expenses, and general corporate purposes. For the Sathlokhar IPO, GYR Capital Advisors served as the lead manager, Purva Sharegistry India acted as the registrar, and Giriraj Stock Broking functioned as the market maker.

About Sathlokhar Synergys E&C Global

Sathlokhar Synergys E&C Global Ltd is a full-service Engineering, Procurement, and Construction (EPC) company that offers comprehensive solutions from design and planning to execution and commissioning. The company specializes in Mechanical, Electrical, Plumbing (MEP) installations, as well as HVAC and Utilities. Additionally, they are an authorized channel partner for Tata Power Solar Systems Ltd.

Founded by G Thiyagu, Sangeethaa Thiyagu, and Dinesh Sankaran, Sathlokhar reported a net profit of ₹26.21 crore and revenue of ₹246.97 crore for FY24, a significant increase from a net profit of ₹5.45 crore and revenue of ₹87.15 crore in FY23.

To Summarize

Shares of Sathlokhar Synergys E&C Global made a remarkable debut on the SME exchange today, August 6. The stock opened at ₹260 per share on the NSE Emerge platform, reflecting an 85.7% premium over its issue price of ₹140.